Lula says Brazil's participation in OPEC+ is to stop oil producers using fossil fuels [Reuters]
Petroleo Brasileiro S.A. Petrobras American Depositary Shares representing Preferred Shares (PBR.A)
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Source: Reuters
oil-producing countries is to convince nations to transition away from the use of fossil fuels. Brazil indicated on Thursday that it was on the brink of joining OPEC+ , a group of 23 oil-producing countries. "I think it's important for us to take part in OPEC+, because we need to convince the countries that produce oil that they need to prepare for the end of fossil fuels," Lula said at COP 28, the UN climate change conference in Dubai. "Preparing means using the money they make to invest so that continents like Africa and Latin America can produce the renewable fuels they need, especially green hydrogen," he added. After Lula's comment, Brazil's mines and energy minister, Alexandre Silveira, spoke on social media on the matter. "We will lead oil-producing countries to accelerate the energy transition. Under the leadership of President Lula we want to use oil revenues to finance clean and renewable energy," he said. Silveira signaled on Thursday that the country would acce
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